The Fred Report - Mid Week Update March 28, 2012
SPY continues to trade in the 140 – 143 target area, and we continue to be a bit defensive until we see a solid move above the 143 area. There are no sell patterns on the indexes, and sentiment indicators are much better placed than the last time we were here – so we remain somewhat optimistic. A look at XLE and OIH suggests a partial decline in oil is possible into May.
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